Gold price correction is within expectations, waiting for layout
https://www.tradingview.com/x/lRRspQph/
News：
When it comes to long-term gold trading, attempting to find a "perfect low" is often unrealistic. While Friday's drop of nearly $200 in gold may seem dramatic, it's only half of last week's gains, making the correction still within reasonable bounds. After hitting 4186, prices quickly stabilized and rebounded to 4247, forming a typical bottoming-out pattern. This level is the 0.5 retracement support level of this week's upward trend.
Specifically:
Opportunities often lurk amidst sharp declines. After Friday's pullback to key support, bullish sentiment has stabilized. We maintain a bullish outlook for the start of the week and recommend placing long positions in batches above Friday's low.
Based on recent trends, the market is expected to trade sideways and rise slowly at the beginning of the week, with a focus on the 4220-4210 support zone. If the Asian session can break through and hold the 4275-4285 pressure zone, then you can follow up with long orders in the European and American sessions; if it maintains volatility, then wait patiently for opportunities to accumulate at low levels and stick to the long strategy on pullbacks.
Trading strategy:
Buy: 4225-4220, SL: 4210, TP: 4275-4300
News：
When it comes to long-term gold trading, attempting to find a "perfect low" is often unrealistic. While Friday's drop of nearly $200 in gold may seem dramatic, it's only half of last week's gains, making the correction still within reasonable bounds. After hitting 4186, prices quickly stabilized and rebounded to 4247, forming a typical bottoming-out pattern. This level is the 0.5 retracement support level of this week's upward trend.
Specifically:
Opportunities often lurk amidst sharp declines. After Friday's pullback to key support, bullish sentiment has stabilized. We maintain a bullish outlook for the start of the week and recommend placing long positions in batches above Friday's low.
Based on recent trends, the market is expected to trade sideways and rise slowly at the beginning of the week, with a focus on the 4220-4210 support zone. If the Asian session can break through and hold the 4275-4285 pressure zone, then you can follow up with long orders in the European and American sessions; if it maintains volatility, then wait patiently for opportunities to accumulate at low levels and stick to the long strategy on pullbacks.
Trading strategy:
Buy: 4225-4220, SL: 4210, TP: 4275-4300
تم فتح الصفقة
Gold prices are expected to continue their downward trend on Monday
I'm Theodore, welcome to join my channel, where you can get the latest trading signals and strategy layout.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
I'm Theodore, welcome to join my channel, where you can get the latest trading signals and strategy layout.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.